Babatunde Fashola, Nigeria’s Minister of Works and Housing, justified the country’s deteriorating economic figures on Friday, citing global conditions.
Fashola claims that the cost of living is rising globally, not only in Nigeria.
He made the remark while appearing on Channels Television’s Politics Today to answer a question.
Fashola was presented with a graph depicting indices such as a 220 percent increase in fertiliser costs between 2020 and 2022, a 59.45 percent fall in the value of the naira, and a 129 percent increase in the cost of cooking gas within the same time period.
“I think it is perhaps not helpful to publish that spreadsheet in isolation,” Mr Fashola said. “What you should do is to compare it with the rest of the world. Tell me anywhere in the world where the cost of living is not rising, whether it is UK, US.
“Just three days ago, CNN was showing a footage of Americans stealing fuel and they would not be stealing it if it was cheap; these are very challenging times globally for the entire world.
“So this is not an isolated occurrence that affects Nigeria only.”
He added that the Nigerian government was responding to the economic challenges.
“When Covid happened, we responded and put up an economic sustainability committee, and we cushioned the impact of the difficult times on Nigeria through a suite of measures.